"Old McDonald..." joke

An American. an Englishman and a Chinese man were all taking part in a quiz contest. One question asked them was to fill in a blank in a song title and then spell the word. The song title was 'Old Macdonald had a -'.
The American was first to answer - he said 'ranch', spelt R-A-N-C-H.
"Wrong" said the quiz master.
The Englishman answered next - he said 'estate', spelt E-S-T-A-T-E.
"Wrong" said the quiz master.
Then the Chinese man answered - he said 'farm'.
"Please spell it" said the quiz master.
"E - I - E - I - O"

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